Fenaka Chairman Resigns After ACC Launches Probe Into Theft Of USD 1 M

in Mas-Huni Brief by

Chairman of Fenaka Corporation, Mohamed Nadheem has resigned after anti-graft watchdog Anti-Corruption Commission (ACC) launched a probe into theft of USD 1 million from state coffers.

fenaka
Photo Courtesy: Fenaka

  • No official confirmation has been made in this regard and the reason for the same is stated to unclear
  • Nadheem is the husband of former President Maumoon Gayoom’s daughter Yumna Maumoon
  • The company is undergoing major changes in top management after the allegations of corruption
  • MVR 17 million issued by the corporation USD 1 million went missing in August this year
  • Former Managing Director of Fenaka Corporation, Ahmed Nimal was removed from his position on September 26

Nadheem in his resignation letter to Privatisation board said:

Since my appointment to the post on December 25, 2013 I have performed my duties sincerely, to the best of his abilities. He said that he worked with the aim of achieving goals, related to the company, outlined in the Progressive Party of Maldives (PPM) manifesto. With the help of the company’s board, I tried to make the 24-hour electricity pledge a reality. I worked for the betterment of the Maldivian people.

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